Money may or may not be an issue. Retiring in France or England is going to cost quite a bit. On the other hand my British friend who retired to an Eastern European country says "I came for the cost of living, and stayed for the women." Having been to that country, I have to agree about both.

It will be very difficult for a US citizen to retire to the UK as the old retirement visa is not available. Even then you had to show a "close connection" to the UK. So unless you have a UK relative, spouse etc or are able to get a residence visa in another EU country retiring to the UK will be hard.

__________________

__________________
“So we beat on, boats against the current, borne back ceaselessly into the past.”

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

We know several couples here in Mexico who are living well on $1500-2000 a month total in relatively expensive enclaves like San Miguel de Allende and Lake Chapala. Many if not most describe themselves as in part "health care refugees." Most still pay their Medicare premiums once they hit 65, but often only so as to have some sort of coverage on return visits to the U.S. (virtually all short-term travel insurance stops paying at 65 or 67).

"A 65-year-old couple retiring in 2012 is estimated to need $240,000 to cover out-of-pocket medical expenses" Some of you seemed to have missed a basic point: A couple is two people, so that is $120,000 per person.

"A 65-year-old couple retiring in 2012 is estimated to need $240,000 to cover out-of-pocket medical expenses" Some of you seemed to have missed a basic point: A couple is two people, so that is $120,000 per person.

Meaning, according to the "Average Net Worth of Americans by Age" thread just above this one, that an average 65 year old couple need only allocate half of their net worth (including real estate value) to out-of-pocket medical expenses. That's a uniquely American type of insanity for sure.

Meaning, according to the "Average Net Worth of Americans by Age" thread just above this one, that an average 65 year old couple need only allocate half of their net worth (including real estate value) to out-of-pocket medical expenses. That's a uniquely American type of insanity for sure.

We know several couples here in Mexico who are living well on $1500-2000 a month total in relatively expensive enclaves like San Miguel de Allende and Lake Chapala. Many if not most describe themselves as in part "health care refugees." Most still pay their Medicare premiums once they hit 65, but often only so as to have some sort of coverage on return visits to the U.S. (virtually all short-term travel insurance stops paying at 65 or 67).

If most US retirees to Mexico continue to pay Medicare premiums, and presumably pay directly for some health care and drugs in Mexico, the out of pocket cost of US healthcare above the Medicare premiums must be pretty high.

The choice US retirees have if they move somewhere they qualify for the local health insurance system is whether to continue to pay Medicare premiums knowing that if they don't they will have to pay 10% greater premiums if they ever return to the US for every year they miss. If I retire to the UK my inclination would be to not pay Medicare and rely on the NHS, but if I ever wanted to move back to the US, say in my 70s or 80s, I end up paying enormous Medicare premiums.

__________________
“So we beat on, boats against the current, borne back ceaselessly into the past.”

If most US retirees to Mexico continue to pay Medicare premiums, and presumably pay directly for some health care and drugs in Mexico, the out of pocket cost of US healthcare above the Medicare premiums must be pretty high.

The choice US retirees have if they move somewhere they qualify for the local health insurance system is whether to continue to pay Medicare premiums knowing that if they don't they will have to pay 10% greater premiums if they ever return to the US for every year they miss. If I retire to the UK my inclination would be to not pay Medicare and rely on the NHS, but if I ever wanted to move back to the US, say in my 70s or 80s, I end up paying enormous Medicare premiums.

For the people I've talked to, it's the fact that the penalty is indeed 10% per year that's the main issue. Clearly you'd be making the right decision to rely on NHS if you retire to the UK, but should you decide to visit the U.S. after age 67 you'd have the issue of being exposed to sky-high U.S. health care costs in the event of an emergency without the possibility of buying travel/trip insurance. For most expats I know here in Mexico family ties are strong and spending long stretches visiting the grandkids is a priority.

In Canada, once you are 65 you pay $100 per year and EVERYTHING is covered. No Medicare Part a, b, c, j, r or Capital Q Etc.. EVERYTHING, No Deductable, Nada, Zilch, Zippo... and No it does not have to be a full moon either, Even Drugs are fully covered.

I am an advocate for Single Payer Systems, can you tell?

__________________"Arguing with an Engineer is like rolling in the mud with a pig. Just remember that the pig likes it."

For the people I've talked to, it's the fact that the penalty is indeed 10% per year that's the main issue. Clearly you'd be making the right decision to rely on NHS if you retire to the UK, but should you decide to visit the U.S. after age 67 you'd have the issue of being exposed to sky-high U.S. health care costs in the event of an emergency without the possibility of buying travel/trip insurance. For most expats I know here in Mexico family ties are strong and spending long stretches visiting the grandkids is a priority.

If I was resident in the UK and just visiting the US I'd buy travel insurance to cover me just like any other visitor form the UK.

__________________
“So we beat on, boats against the current, borne back ceaselessly into the past.”

i think the point was already made that travel insurance will not cover medical after 67?

In SA most expats that can not get into the NHS, continue to use medicare and then have a private health insurance policy and a cancer policy (in country).

So that would mean any visitor to the US over 67 would be risking crippling health bills if they had to be treated in the US. I can't believe that. You must be able to buy coverage in the UK for a trip to the US that will cover emergency treatment and the cost of a flight back to the UK and the loving arms of the NHS.

edit

PS I just Googled "UK travel insurance" and came up with a lots of travel insurance for people from age 65 to 85 that includes emergency medical care and repatriation costs.

__________________
“So we beat on, boats against the current, borne back ceaselessly into the past.”

So WHY do so many Americans Oppose any form of Single Payer Medical System.....? Go Figure.

Right. Canadians wonder about this too. Also, you can buy health insurance for trips to the US but they only cover short periods. Permanent residence the US is entirely different and would require insurance much like Americans buy.

i think the point was already made that travel insurance will not cover medical after 67?

In SA most expats that can not get into the NHS, continue to use medicare and then have a private health insurance policy and a cancer policy (in country).

We've had plenty of visitors from the UK, staying between 2 and 4 weeks who are over the age of 67 and they all managed to get travel insurance that covered them for health problems. When we were in the UK last year we visited one of those couples (an aunt and uncle) who are now in their 80's and they told us that they are now giving up traveling abroad anywhere because the health insurance is too expensive.

__________________Retired in Jan, 2010 at 55, moved to England in May 2016Now it's adventure before dementia

When we were in the UK last year we visited one of those couples (an aunt and uncle) who are now in their 80's and they told us that they are now giving up traveling abroad anywhere because the health insurance is too expensive.

Health insurance or travel insurance (to cover only emergencies?).

Here's a U.K. plan that does not have an age limit (although you would have to make the decision if it would fit your needs):

When I posted about people over 67 being excluded it was on the basis of policies from World Nomads and other popular travel insurance providers. Digging deeper, for non-U.S. residents I found this link courtesy of the well-regarded Trip Insurance Store:

The good news is one can get coverage up to age 89; the bad news is it will cost 35-50% of the total value of your trip! There are threads about this on Lonely Planet forums and elsewhere that make it very clear that prohibitively high insurance costs are "the pensioner's bane."

This thread is about Americans retiring abroad, not UK visitors visiting the U.S., and clearly Americans who choose to expatriate who want to visit the U.S. need to be very aware of the liability they expose themselves to should they return for visits without health insurance coverage.

If most US retirees to Mexico continue to pay Medicare premiums, and presumably pay directly for some health care and drugs in Mexico, the out of pocket cost of US healthcare above the Medicare premiums must be pretty high.

It all depends on what form your coverage takes. The cheapest is usually HMO care in a Medicare Advantage plan. One that I know about costs $19/ year above Medicare Pt B of $99. Copays vary from $25 to $75, depending on what is being done. There is also a deductible of several hundred $ and some cost sharing usually with a stop loss around $3000 to $3500.

Otherwise you can get a Medicare supplement plan. In my area these run $175-$225/mo, for the most popular plan Type F. Drug plans vary, but bottom end is $15-$20/mo, and the prices go up quite a bit from there for more complete benefits.

Ha

__________________

__________________
"As a general rule, the more dangerous or inappropriate a conversation, the more interesting it is."-Scott Adams

Latest Threads

Social Knowledge Community

About Us

This community was started in 2002 as an alternative to a then fee only Motley Fool. The focus of the discussions is on topics related to early retirement and financial independence. The community is moderated to ensure a pleasant experience for our members.